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AEDE 2017

VIII Annual Conference of the Spanish Association of Law and Economics
Madrid, 29-30 June 2017
Universidad Carlos III de Madrid- Puerta de Toledo Campus

Thursday 29 June
8:30-8:50 Breakfast and Registration (Entrance Hall)

8:50-9:00 Welcome and Introduction to the Conference (Salón de Grados)
Prof. Francisco Cabrillo (Presidente AEDE)
Prof. Juan Manuel García Lara (Universidad Carlos III de Madrid)

9:00-10:45 1st round of parallel sessions
Parallel Session 1.A L&E Empirics (Room 0.A.03)– Chair: Mar Delgado Téllez
“Partisan Alignment and the Political Budget Cycle. Evidence from Spain” (Miguel Ángel
Borrella-Mas and Marcello Sartarelli)
Discussant: Laarni Escresa
“Determinants of Cross-Border Corruption” (Laarni Escresa and Lucio Picci)
Discussant: Mar Delgado Téllez
“Institutional and economic determinants of the Sub-national public debt in Spain” (Mar
Delgado Téllez, Pablo Hernández de Cos and Javier J. Pérez)
Discussant: Marcello Sartarelli

Parallel Session 1.B L&E Theory models (Room 0.A.04) – Chair: Gabriel Doménech
“When Public Goods Become Private Goods: Private Security and Crime Market Equilibrium”
(Miguel Puchades)
Discussant: Mateusz Bukaty
“State Liability for Retroactivity and the Optimal Production of Judge-made Law” (Mariusz Jerzy
Golecki and Mateusz Bukaty)
Discussant: Gabriel Doménech
“Harmless errors in Administrative Law” (Gabriel Doménech)
Discussant: Miguel Puchades

Parallel Session 1.C Economic analysis of the law (Room 0.A.06) – Chair: Amir N. Licht
“Economic analysis of the heterogeneous nature of standard contract terms and their
unfairness” (Mireia Artigot, Fernando Gómez Pomar y Juanjo Ganuza)
Discussant: Orlin Yalnazov
“Information, precedent and statute” (Orlin Yalnazov)
Discussant: Amir N. Licht
“Motivation, Information, Negotiation: Why Fiduciary Accountability Cannot be Negotiable”
(Amir N. Licht) Discussant: Fernando Gómez Pomar
10:45-11:15 Coffee break

11:15-13:00 2nd round of parallel sessions
Parallel Session 2.A L&E Empirics (Room 0.A.03)– Chair: Robin Christmann
“The role of independent directors on earnings management: evidence from individual
incentives” (Cristina Grande Herrera)
Discussant: Lara Wemans
“Productivity in civil justice in Portugal: A crucial issue in a congested system” (Manuel
Coutinho Pereira and Lara Wemans) Discussant: Robin Christmann
“The Role of Precedents on Court Delay Evidence from a Civil Law Country” (Michael Berlemann
and Robin Christmann)
Discussant: Cristina Grande Herrera

Parallel Session 2.B L&E Theory models (Room 0.A.04) – Chair: Rosa Ferrer
“Explaining the Standard of Proof in Criminal Law: A New Insight” (Nuno Garoupa)
Discussant: Henrik Lando
“On Negligence versus Strict Liability when the Parties can Insure Losses” (Henrik Lando)
Discussant: Rosa Ferrer
“Self-Regulation vs. Enforcement of Quality Regulation” (Rosa Ferrer and Gerard Llobet)
Discussant: Nuno Garoupa

Parallel Session 2.C Economic analysis of the law (Room 0.A.06) – Chair: Susana Martínez
“The Legal Anatomy of the Sharing Economy” (Mireia Artigot Golobardes)
Discussant: Michael Karas
“The U.S. Copyright Termination Law In The Shadow Of Litigation” (Michael Karas)
Discussant: Susana Martínez
“Instructions not included: Spain’s Sociedad de Responsabilidad Limitada, 1919-1936” (Timothy
W. Guinnane and Susana Martínez)
Discussant: Mireia Artigot Golobardes

13:00-14:00 Keynote Speech: Prof. Colin Mayer (Saïd Business School, Oxford University)
“The evolution of ownership and control around the world: The changing face of capitalism”

14:00-15:30 Lunch
15:30-17:15 3rd round of parallel sessions
Parallel Session 3.A L&E Empirics (Room 0.A.03) – Chair: Jens Dammann
“Does the Institutional Framework Matter for Industrial Specialization Patterns? Disaggregated
Province-Level Evidence from Spain” (Juan S. Mora-Sanguinetti and R. Spruk)
Discussant: Paola Bertoli
“Exploring the nexus between certainty in injury compensation and treatment selection” (Paola
Bertoli and Veronica Grembi)
Discussant: Jens Dammann
“Business Courts and Firm Performance” (Jens Dammann)
Discussant: Juan S. Mora-Sanguinetti

Parallel Session 3.B Economic analysis of the law (Room 0.A.04) – Chair: Leonor Rossi
“Surpassing Prisoner’s Dilemma of European corporations” (Lela Melon)
Discussant: Maria de Campos
“Is Nudge relevant for the Law? Nudge as an instrument of (soft) regulation and its operational
regulatory challenges” (Maria de Campos)
Discussant: Leonor Rossi
“Access to Leniency Documents held by the EU, one Barrier down” (Leonor Rossi and Catarina
Discussant: Lela Melon

Parallel Session 3.C Economic analysis of the law (Room 0.A.06) – Chair: Pablo Sanz Bayón
(Spanish will be the language for this session)
“Cesión e intercambio de pruebas entre investigaciones de defensa de la competencia y
procesos penales” (Francisco Marcos)
Discussant: Teresa Rodríguez Cachón
“El oportunismo contractual en su consideración de incumplimiento contractual doloso
agravado: relevancia de su expresa consideración y mecanismos destinados a su sanción”
(Teresa Rodríguez Cachón)
Discussant: Pablo Sanz Bayón
“Competencias de gestión a la junta general de las sociedades cotizadas en España” (Pablo
Sanz Bayón)
Discussant: Francisco Marcos

17:30 AEDE General Assembly
Chair: Prof. Francisco Cabrillo (Presidente AEDE)
9:30-10:00 Breakfast

10:00-11:45 4rd round of parallel sessions
Parallel Session 4.A L&E Empirics (Room 0.A.03) – Chair: Alessandro Melcarne
“The ineffective practice of monetary reparation to the victim in the Spanish system” (Helena
Soleto and Aurea Grané)
Discussant: Sergio Mittlaender
“Morality, Compensation, and the Contractual Obligation” (Sergio Mittlaender)
Discussant: Alessandro Melcarne
“Judicial Independence and Constitutional Justice: Evidence from the European Court of Human
Rights” (Eric Langlais, Alessandro Melcarne and Giovanni B. Ramello)
Discussant: Aurea Grané

Parallel Session 4.B L&E Empirics (Room 0.A.04) – Chair: Nora Muñoz-Izquierdo
“When Productivity Meets Justice” (Finn R Førsund, Sverre AC Kittelsen, Alessandro Melcarne
and Giovannni Ramello)
Discussant: María del Mar Camacho Miñano
“Do distressed firms’ managers use opportunistically textual characteristics? The “ethical role”
of litigation risk” (María del Mar Camacho Miñano and Alonso Moreno)
Discussant: Nora Muñoz-Izquierdo
“The ability of audit report disclosures to explain insolvency: a comparison using traditional and
artificial intelligence methodologies” (Nora Muñoz-Izquierdo)
Discussant: Giovannni Ramello

Parallel Session 4.C Economic analysis of the law (Room 0.A.06) – Chair: Antonio Robles
(Spanish will be the language for this session)
“Life Cycle Cost and Public Procurement” (Melina Barrio and Ximena Lazo)
Discussant: Antonio Robles Martín-Laborda
“Merger control of online platforms. The relevance of network effects” (Antonio Robles
Discussant: Ximena Lazo

11:45-12:15 Coffee break
12:15-14:00 5th round of parallel sessions
Parallel Session 5.A UC3M Special Session on New Ways of Financing Innovation (Room
0.A.03) – Chair: David Wehrheim
“Firms' innovation strategy under the shadow of analyst coverage” (Bing Guo, David Pérez-
Castrillo and Anna Toldrà-Simats)
Discussant: Maribel Sáez Lacave
“The promise of reward crowdfunding” (María Gutiérrez and Maribel Sáez Lacave)
Discussant: David Wehrheim
“Patents and movility” (Eduardo Melero, Neus Palomeras and David Wehrheim)
Discussant: Bing Guo

Parallel Session 5.B L&E Empirics (Room 0.A.04) – Chair: John Palmer
“Trans-fats, nudging and human lives: towards an optimal regulatory intervention” (Mitja
Kovac and Rok Spruk)
Discussant: Miguel García-Posada Gómez
“Credit constraints, firm investment and growth: evidence from survey data” (Miguel García-
Posada Gómez)
Discussant: John Palmer
“Does migrant selection vary with the generosity of social, economic, and political rights across
the OECD?” (Alícia Adserà, Mariola Pytliková and John Palmer)
Discussant: Rok Spruk

Parallel Session 5.C L&E Empirics (Room 0.A.06) – Chair: Francisco Gutiérrez López
(Spanish will be the language for this session)
“Desempeño de los Juzgados de lo Social en España: Un Análisis Empírico” (Virginia Rosales,
Ángel Martín-Román y Alfonso Moral)
Discussant: José A. Carrasco-Gallego
“Reformas laborales e inflación” (José A. Carrasco-Gallego and Laura Sánchez Almazara)
Discussant: Francisco Gutiérrez López
“El gasto en la administración de justicia en España entre 2004 y 2014” (María José Vázquez
Cueto y Francisco Gutiérrez López)
Discussant: Virginia Rosales

14:00-14:45 Lunch

14:45-16:45 FIDE Special Session: “El ejercicio de la abogacía hoy”
Luis Redonet, Partner Everis
Pedro Rodero, Partner Ontiner España